An FHA loan is a mortgage for those with a 580+ credit score, that’s insured by the Federal Housing Administration (FHA). They are popular especially among first-time home buyers because they allow down payments of 3.5%. The low down payment and lenient qualifying standards make this a great loan program for a lot of people.
Benefits of FHA loans:
- Low Down-Payment on an FHA loan
- 580+ Requirements on an FHA loan
- Ability to Assume a Mortgage from a seller on an FHA loan
To see if an FHA loan is right for you, Contact us today or Apply Now to take the best first step towards owning your own home.